Iao Kun Group Holding Company Ltd has announced it is changing its name to LiNiu Technology Group.
The name change, effective Thursday, April 27 is believed to further represent the company’s diversification away from the VIP gaming market, and its move into the Chinese agricultural industry.
From Thursday, the company will commence trading on NASDAQ under its new ticker symbol of “LINU”, while the stock will no longer be traded under the symbol of “IKGH”.
Earlier this month, the company successfully launched the LiNiu Network, its electronic B2C, C2C and O2O trading platform focused on the Chinese agricultural industry.
Since its launch, the site has seen traffic of over 50,000 visitors on a daily basis, with more than 130,000 users and more than 20,000 suppliers registered, and over 80,000 products currently sold through the platform. The LiNiu Network generates revenue through commissions, advertising, management fees and guarantee deposits.
“We are pleased at the initial reception we’ve received for the LiNiu Network from both suppliers and customers as we continue to enhance our platform,” said Mr. Wang Shun Yang, co-chief executive officer of LiNiu Technology Group. “We also want to thank shareholders for approving our name change, which we believe better conveys what we are trying to accomplish as well as our strategic outlook over the long term.”